It's time to reveal more details on the DeFi products on BEPRO Network that will be rolling out from now on and continuing into 2021. DeFi is growing at an incredible pace and shows no signs of stopping. BEPRO Network is building out DeFi tools that will help our Operators increase loyalty, community and engagement for their platforms. But DeFi on BEPRO Network is not just for our operators; DeFi on BEPRO Network will be an open to use platform for anyone to use our DeFi-as-a-Service products!
We've always had DeFi on the mind as we built out our SaaS and products. The ecosystem wasn't there yet at the time, so we focused on building infrastructure and a robust backend and network for critical gaming supply for online entertainment companies. Now that DeFi is taking off and entering into the public eye, it's time for us to reveal our long in development decentralised finance products specifically tailored to the blockchain based online gaming world. These tools are so useful and robust that even non-gaming companies can use them. Without further ado, let's introduce the first DeFi products on BEPRO Network!
Say you have a company, XYZ Corp, and you wanted to take the idea of loyalty points to the next level. You want them to be more than just digits on a centralised database. You want them to actually mean something. Be worth something. Now, with DeFi on BEPRO Network, you can do just that. Most people don't know how to code Solidity, they don't want to run a full node, and they don't have the developer resources to code out a token smart contract on Ethereum, have it audited, and then have it deployed and distributed to pre-arranged addresses (or even another smart contract designed to distribute those tokens based on time-unlocks). I mean, who knows how to do that stuff themselves? Turns out, BEPRO Network does, and we are making this tech available to everyday consumers in an easy, No Code environment.
Now brands like XYZ Corp and others can mint their own tokens and have them be tradable on DEXs (like Uniswap) lendable (like on Compound) and able to interact with multiple blockchains (via Moonbeam). This takes the idea of the loyalty point to a whole new level. There are many reasons (other than loyalty points) that brands might want to mint their own custom tokens (token fundraising sales, governance schemes, etc) but we will focus on the online gaming use case already live on BEPRO Network : Bet Mining with TKNT
If you visit TKN.COM where our Bet Mining DeFi feature is live, you'll see that there are two balances at the top of the page. In this example, you can see the player's deposit balance is 0.0192 ETH. To the right of this balance, is the Bet Mining balance of 7.70 TKNT. TKNT is earned on the TKN platform by placing bets on the casino or Esports. TKNT is an actual cryptocurrency, minted by the TKN Foundation using BEPRO Network's DeFi tools, and is currently traded on exchanges. Check our their Coinmarketcap page here.
What is Bet Mining?
Win or lose, when the player bets, regardless of the outcome of the game, the player will win TKNT tokens based on their bet size. Later on, the player may withdraw TKNT token and sell them for liquid cryptocurrencies on exchanges, or use them in other innovative ways (TBA).
DeFi on BEPRO Network is just beginning, and we will be announcing more features when they come live. You can look forward to all the DeFi on BEPRO Network features and products coming together to turbo charge the BEPRO Network's group of Operators, and bring continued value to our Ecosystem.
Good question. All the DeFi on BEPRO Network products and initiatives have $BEPRO token in the center of them acting as the incentivisation and coordination mechanism. Bet Mining, for example, will encourage more community engagement with brands and will likely lead to increased betting volume. Increased betting volume means that more BEPRO is spent as gas. Other ways that $BEPRO will be used in the DeFi on BEPRO Network initiative will be revealed soon when we go live with the upcoming features that will further enhance the $BEPRO Network: Staking, Yield Farming, and a top secret function that will turbo charge the entire network, that no other DeFi project has.
DeFi on BEPRO Network is about building sustainable and responsible community engagement among the BEPRO Network of Operators. It's about making DeFi-as-a-Service accessible to companies and individuals to create innovative communities with high levels of engagement.
- It's NOT about offering 5000%+ APY.
- It's NOT about promising the moon on a whitepaper and then rug pulling on investors.
- It's NOT about copy and pasting Solidity code, adding [INSERT JAPANESE FOOD NAME] + Swap
- It's NOT about putting out untested code, allowing lending, and then getting flash loan exploited.
If you want to invest in these types of projects, then good luck to you (you'll need it).
BEPRO Network is an actual revenue generating business with real clients and product market fit. Our clients ASKED US for these DeFi products to augment their businesses, and we are delivering them.
Stay tuned for more announcements on new features and products for DeFi on BEPRO Network when they are live!
BEPRO Network is a blockchain-based, Software & Code-as-a-Service protocol for on-chain and off-chain betting systems. Our technology stack features a robust and flexible API, sandbox and production environments, and a visual back-office for fast management of betting platforms from anywhere with an internet connection. We provide a fully customisable white label solution for crypto-enabled online casinos, Esports betting apps, slots, prediction markets & more.